i got my social security yearly summary last week. i love how it lists what you've made every year and in 2008 it was $13,000. yes i live cheaply...basically off $1000 a month i'd do ok. thank god for del taco.
there was an extra sheet with this years info. it gave me the following happy news. ed. note- [commentary],bold & italic are added in by me :
Will Social Security be around when you retire?
"Yes"...[ed. note- keep reading along, it will turn into a no] The Social Security taxes you now pay go into the Social Security Trust Funds and are used to pay benefits to current beneficiaries. The S.S. Board of trustees now estimates that based on current law, in 2041, the Trust Funds will be depleted. Because people are living longer [ed. note-thank you cures for cancer and other diseases meant to balance the population like in every century but the 20th..people trying to cheat death claiming it's god's way since he invented man-who invented medicine yadda yadda just like how IVF & other medical ways to procreate is "a natural way to have kids (god's way)" maybe you weren't meant to...how about adoption??but then they are little me's which is what most seem to want for whatever ego reason.] and the birth rate is low, the ratio of workers to beneficiaries is falling. Therefore, the taxes that are paid by workers will not be enough to pay the full benefit scheduled.
However, this does not mean that S.S. will disappear [unfortunately...it's a dying institution that will only benefit the people that created it in the beginning and their children]. Even if modifications are made [ed note-there's no hope their telling us basically], there would still be enough funds in 2041 from taxes paid by workers[current taxpayers] to pay about $780 for every $1000 in benefits scheduled [the info on the summary packet you get every year].
-end of article
in 2041 i'll be hitting 65. right in time to continue working. fortunately i've already accepted i'll be working until i die. the government won't do anything for me...especially if i'm getting about $5oo from them a month on SS i'd have to have other jobs to live and then i don't qualify for SS. love a good catch 22. it frustrate the hell out of me when i hear older people complaining about things now...they've got it so much better then we will..if this country is still around by then and i'm not holding my breath on that.